Beijing Plans Infrastructure Binge

By

Aaron Back

Updated Sept. 7, 2012 8:46 p.m. ET

BEIJING—China approved an estimated $156 billion in new subways, highways and other infrastructure projects in recent days, giving markets a boost on Friday, even as economists are increasingly fretting that the country is behind the curve in responding to the economic slowdown.

The spending plans send a signal that the Chinese government has belatedly heeded risks from a slowing economy and has become increasingly open to stimulus,...